[jpsb]

Yes that is my take also, China is the only economy large enough, to replace the USA. And I totally agree that the USA in the last two administrations has been completely irresponsible in managing it's finances. I would imagine things will proceed slowly, my guess is that the Saudis will start by accepting both the dollar and the yuan. Perhaps on a percentage basis like 80% dollars and 20% yuan. The Saudis rightly see Iran and a mortal threat and if the USA can not be relied on to deal with the treat the Saudis will find someone that will. What is interesting is that puts China at serious odds with Russia. Perhaps Putin has out smarted himself? China is a much more dangerous adversary to Russia then the USA.

I will not miss being the worlds cop, we will be much poorer of course, but we can use a "timeout" to rebuild and regroup. The silver lining in all this will be the end of big government, we just can't afford it any longer. Another plus is that the rest of the world can deal with the crazies in the middle/near east for a change.

[Colonel Kangaroo]

We have taken on the world’s burdens nonstop since 1945. We’re twenty years overdue setting down the unnatural responsibilities of the Cold War and returning to more sustainable existence.

[pegleg]

What is interesting is that puts China at serious odds with Russia.

They do make for strange bedfellows. Maybe their common thread is to unseat the dollar as the reserve currency.

I will not miss being the worlds cop, we will be much poorer of course, but we can use a "timeout" to rebuild and regroup.

Agreed. This is long over due.